Deputy Chief of Mission at the US embassy, Donald Lu on Friday exuded confidence that both Indian and American companies could make a “fantastic team” in developing cutting edge aviation technology for a worldwide market in days to come.

Delivering his presidential speech at the panel discussion held by the American Chambers of Commerce in India at GIM -2012 here, Mr Lu maintained that with Bengaluru and Hyderabad emerging as alternative aerospace hubs in the world market, he was convinced this was the future of US-India hi-tech partnership.

“It is advanced US technology and a skilled Indian workforce which will together create hundreds of new jobs and economic opportunities in both of our countries.

I will be visiting the Boeing Research and Technology Center in Bengaluru which is helping to develop cutting edge aviation technology for a worldwide market,” he disclosed.

Noting that US businesses had an advantage in the hi-tech sector, he said they historically represented a culture of innovation and risk-taking. “We have made tremendous investments in research and development.

India is creating a similar business culture that values an educated workforce and entrepreneurial discovery. Together we make a fantastic team,” he said, adding, “Gone are the days when bright young Indians slogged in call centers the whole night answering calls from US citizens.

Today, the Indian economy is looking refreshingly good and developing cutting edge aviation technology for a worldwide market.” The book, One Night at the Call Center, by Chetan Bhagat was all about the frustration and wasted youth of talented young people working in dead end jobs in the service of the U.S. economy, he observed.

" It tells the story of yesterday’s India-US commercial relationship. But today it is an altogether different story, ” he concluded.

Infosys, Wipro announce expansion plans

The second and last day of Global Investors Meet -2012 saw three major companies sign MoUs with the government, with the promise of investing Rs 4,356 crore in the state.

While Reliance Group’s Infotel Broad plans to establish a Rs 3,300 crore unit on 36 acres in Devanahalli, Infosys will invest Rs 595 crore in a 60 acre facility at the Devanahalli IT special economic zone and Wipro is all ready to set up a campus at the IT SEZ in Sarjapur.

The GIM also saw some brainstorming by IT experts on ways to keep Bengaluru ahead in the game and remain the information technology capital of the country. Mr V.R Feroze, MD, SAP Labs India felt it was neccessary to bring in policies in tune with technological advances to ensure that the state was heading in the right direction.

He suggested setting up a special entrepreneur zone where new ventures could be established. “If Karnataka has to keep its IT growth story going, then it must make it possible for a team in the hamlets of Shimoga to coordinate with a team in other districts for a product being made in Bengaluru and designed in Israel,” said Mr Ganesh Natarajan, VC, Zenstar.

GIM 2012: CM lays out plans to address industry concerns

Committee headed by Chief Secretary will have representatives from industry and trade associations
Proceedings of this committee will be put on the Department website.

An Investor Relationship Management System to be set up to maintain a constant connect with the investors A web-enabled system to monitor the progress of all investment proposals will be launched
Every investor will be assigned a ‘relationship officer’ who will act as the single-point contact for the investors

Other top investors include Composite Global Energy Ltd (Rs 20,000 crore), BMM Ispat Ltd (Rs 16,230 crore), B R Shetty Group (Rs 15,000 crore), Kalyani Steels Ltd (Rs 12,000 crore), Surana Power Ltd (Rs 11,880 crore), Asia Pacific Industries Ltd (Rs 9,800 crore), Green Infra Ltd (Rs 8,000 crore), Udupi Power Corporation (Rs 6,930 crore), Mantri Sierra Structure Private Limited (Rs 6,857 crore), Renew Power (Rs 6,000 crore), Flamingo Energy Ventures Pvt Ltd (Rs 5,903 crore) and Chinaland Solar, China (Rs 5,500 crore) among others.

Hubli Next IT destination

Hubli seems poised to be the next favourite IT destination after Bengaluru in the state as a number of investors came out with proposals to build tech parks and IT infrastructure in the town at GIM-2012.

A start-up company, Orange Business Solution, which signed an MoU of Rs 120 crore, was impressed by the fact that the Union government had sanctioned 5,000 acres in Hubli for an industrial hub.

Food shortage at the Venue

Delegates at the GIM were in for a rude shock on Friday when after a brainstorming of around four hours, they could find nothing to eat.

Many went hungry , while others managed to nibble on what little there was. While on Thursday, the organisers had set up several food counters at various venues, on Friday, lunch was served only in Hall 3.

Delegates who spent half an hour in serpentine queues at food counters, found the vessels empty when they finally got there.

As some vented their anger, lunch was arranged for a few VIPs and media persons in the chief minister’s lounge.

MPC for bengaluru city

Bengaluru Metropolitan Region Development Authority (BMRDA) commissioner Rajiv Chawla on Friday called for a re-look at the BMRDA Act and suggested a Metropolitan Planning Committee (MPC) be set up for the city.

Participating in a session on housing and development at Global Investors Meet – 2012 , he said the MPC could act as an umbrella agency and oversee the planned growth of the city.

He deplored that multiple agencies and gram panchayats worked in isolation.BBMP commissioner, M. K. Shankarlinge Gowda said it was looking for investors to build 1,000 toilets, 200 sky walks, to revamp markets and segregate and convert garbage into electricity

Social security agreements

The Union government is trying to persuade the USA and UK to sign bilateral social security agreements to help Indians who have worked in these countries get their social security savings, director of the Diaspora Services of the Ministry of Overseas Indian Afairs, Yogeshwar Sangwan . Speaking at the Overseas Indian Diaspora session at the GIM- 2012 here, Mr Sangwan said bilateral social security agreements had already been drawn up with many countries.